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2843 E Turquoise Drive Phoenix, AZ 85028

3 Beds 3 Baths 2,407 sqft Built 1962

$569,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $236.39
  • 2 Days on Market
  • MLS # : 6178873
  • Updated Date : 01/10/2021 at 04:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,407 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

Paradise Valley Oasis offers this 2400+SqFt, 3Bed + Den, 3Bath territorial w/oversized 2-car garage in the highly rated Paradise Valley School District. NO HOA! Easy access to the Dreamy Draw Recreational Area & Piestewa Peak Trails. Beautiful Courtyard w/Separate Guest Quarter Entrance - Perfect for in-laws or AirBnb! Entertain your friends & family in the open concept living space w/large island, granite counters & custom bar. Master bathroom boasts glass enclosed shower, jetted tub and huge walk-in closet. Private Jacuzzi is hot, up & running for those cool winter nights. Beautiful mountain views from the spacious covered back patio to large grassy area. RV Gates! Move In Ready! Minutes from great food, shopping and easy access to the 51. You don't want to miss this opportunity!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Paradise Valley Oasis South

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k397k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Paradise Valley Oasis South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Mercury Mine Elementary School Primary Regular 546 27 8
Mercury Mine Elementary School Middle Regular 546 27 8
Shadow Mountain High School High Regular 1,390 67 3

Mercury Mine Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Mercury Mine Elementary School

  • Education Level: Middle
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$512,100$625,900$569,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,976
Property Tax -$364
Property Insurance -$74
Property Management Fees -$99
CASH FLOW
-$463

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$569,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,535

INVESTMENT

$156,535

Down Payment
$142,250
Rehab Estimate
$5,750
Closing Costs
$8,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,976

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,250
Loan Amount $426,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,458

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,070

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,8954$1,9505$2,500
$2,500
RENT COMPS ANALYSIS
  • 2843 E Turquoise Drive Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,407 Sqft ∙ Built 1962 3 beds 3 baths ∙ 2,407 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3133 E Onyx Avenue Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,328 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,328 Sqft ∙ Built 1969
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 3422 E Beryl Lane Phoenix, AZ 3
    • 3 beds 2 baths ∙ 2,308 Sqft ∙ Built 1971 3 beds 2 baths ∙ 2,308 Sqft ∙ Built 1971
    LEASED 08/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.82
    •  
  • 3409 E Mountain View Road Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 1960 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 1960
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
  • 2265 E Becker Lane Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1974
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
PROPERTY LISTING DETAILS
Mitch Mitchell
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178873
Last Updated: 01/10/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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